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Micro and Small Enterprises Authority to begin issuing loans

Entrepreneurs in Kericho County have been urged to register their businesses and also keep all documents relating to their businesses well in order to access loans to boost their businesses as the Micro and Small Enterprises Authority (MSEA) gears up to start issuing loans.

Speaking during a sensitization seminar for the Voice of Kericho Gospel Music Traders Association, Area County Micro and Small Enterprises Authority officials led by Mr Fredrick Kaduka, said when the authority starts issuing loans, only legally registered entrepreneurs will benefit.

Kaduka pointed out that MSEA loans will be friendly and urged traders to take advantage of the fund once it is launched to boost their businesses.

During the forum, Voice of Kericho Gospel Music Traders Association members were enlightened on various issues including entrepreneurship, leadership and governance, developing a business plan, and business mentoring and networking.

They also learnt about various sources of business funds available for them to enhance their businesses as well as marketing skills.

The association’s Chair Mr Bernard Chepkwony, revealed that the 40 gospel artists drawn from all the six Kericho Sub-Counties decided to register the association and to venture into business to empower themselves economically.

“As gospel artists, we also formed the Kericho Elite Youth Savings and Credit Cooperative which has greatly uplifted our livelihoods,” said Chepkwony.

He said the musicians started small businesses after receiving Sh50, 000 each from Kenya Industrial Estate (KIE) adding they engage in economic activities such as Public Service motorcycles, music recording studios, hotels, shops and beauty products.

“We have really benefitted from the training today courtesy of MSEA and we hope we will continue to get more training in future in order to grow our businesses. For instance, we have learnt skills on access to information and technology online and access to government procurement opportunities,” said Mr Chepkwony.

During the sensitization seminar, MSEA also presented the Voice of Kericho Gospel Music Traders Association with their registration certificate which was received by their officials.

The Micro and Small Enterprises Authority is a state corporation established under the Micro and Small Enterprise Act no. 55 of 2012 and is mandated to coordinate, facilitate and implement the integration of various public and private sector initiatives for the promotion, development and regulation of the micro and small enterprises in Kenya to become key industries.

The Authority which has a national outreach through 400 Constituency Industrial Development Centres (CIDC) and worksites provide common user manufacturing facilities and tools to promote industrialization.

By Kibe Mburu and Ivy Lutomia

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